DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Ceradyne, Inc. (“Ceradyne”) (Nasdaq: CRDN) to 3M for shareholders. Under the proposed Ceradyne sale, Ceradyne shareholders will receive only $35.00 in cash for each share of Ceradyne stock owned (well below at least one analysts estimated value of $37.00 per share) in a deal valued at approximately $670 million.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Ceradyne sale investigation centers on whether Ceradyne shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Ceradyne stock, and whether Ceradyne’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to Yahoo! Finance, at least one analyst estimates the true inherent value of the shares could be as high as $37.00 per share. Shareholder rights attorney Willie Briscoe stated that “due to the proposed sale price, we believe that the transaction may undervalue Ceradyne stock. Our lawsuit will seek to obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Source: Powers Taylor, LLP